Mowog

Preview from Europe: Another Bear Market Bounce, Or Bottoming?

It's not just Sony laying people off in Japan. When hired as a proper full-time employee (seishain), you've basically got a job for life. However, there's been a trend toward contractual and part-time work to lower labor costs. Japan's fiscal year ends 31 March and many contractual and part-time workers have been notified that means they'll be out of work and, in some cases, out of corporate housing; those receiving housing supplements (very common in Japanese paychecks) are increasingly not finding them. Job promises made late last year are increasingly being revoked. Nissan has said it will go to 0% part-time and contractual. It will not be the only firm to do so.